October 15, 2019 Comments Off on Grocery-Anchored Center on SW Side Trades in All-Cash Deal Views: 401 Chicago News, South Side

Grocery-Anchored Center on SW Side Trades in All-Cash Deal

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Marcus & Millichap closed the sale of Park Shops, a 47,069-square-foot, grocery anchored center on the city’s Southwest Side. The final price of $3,934,999 represented 97% of the listed amount.

Adrian Mendoza, Austin Weisenbeck and Sean R. Sharko, all of Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a developer. After multiple offers, they secured the Chicago-based buyer, a private investor, in an all-cash transaction.

Park Shops is located at 6400 W. 63rd St., a heavily-populated area with 140,916 people living within a three-mile radius. The grocer, Fair Share Super Market, has been operating at the location for 27 years and recently extended for 10 years. The property was under contract within 14 days of bringing the property to market.

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